HOOG vs. TSL

Last updated Jun 23, 2026

HOOG (Leverage Shares 2X Long HOOD Daily ETF) and TSL (GraniteShares 1.25x Long Tsla Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, HOOG returned -5.85% vs 24.69% for TSL. At a 0.45 correlation, their price movements are largely independent. HOOG charges 0.75%/yr vs 1.15%/yr for TSL.

Performance

HOOG vs. TSL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long HOOD Daily ETF (HOOG) and GraniteShares 1.25x Long Tsla Daily ETF (TSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOG achieves a -37.65% return, which is significantly lower than TSL's -14.65% return.

HOOG

• 1D: -4.37%
• 1M: 92.50%
• YTD: -37.65%
• 6M: -47.26%
• 1Y: -5.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSL

• 1D: 1.15%
• 1M: -6.60%
• YTD: -14.65%
• 6M: -23.23%
• 1Y: 24.69%
• 3Y*: 9.56%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HOOG vs. TSL - Yearly Performance Comparison

	2026 (YTD)	2025
HOOG Leverage Shares 2X Long HOOD Daily ETF	-37.65%	320.19%
TSL GraniteShares 1.25x Long Tsla Daily ETF	-14.65%	106.86%

Correlation

The correlation between HOOG and TSL is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025	0.45

Return for Risk

HOOG vs. TSL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HOOG

HOOG Risk / Return Rank: 12
HOOG Sharpe Ratio Rank: 8
HOOG Sortino Ratio Rank: 18
HOOG Omega Ratio Rank: 17
HOOG Calmar Ratio Rank: 8
HOOG Martin Ratio Rank: 8

TSL

TSL Risk / Return Rank: 16
TSL Sharpe Ratio Rank: 15
TSL Sortino Ratio Rank: 18
TSL Omega Ratio Rank: 17
TSL Calmar Ratio Rank: 17
TSL Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HOOG vs. TSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HOOD Daily ETF (HOOG) and GraniteShares 1.25x Long Tsla Daily ETF (TSL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HOOG	TSL	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	0.45	-0.49
Sortino ratio: Return per unit of downside risk	0.98	0.99	-0.01
Omega ratio: Gain probability vs. loss probability	1.12	1.11	0.00
Calmar ratio: Return relative to maximum drawdown	-0.07	0.67	-0.74
Martin ratio: Return relative to average drawdown	-0.11	1.45	-1.56

HOOG vs. TSL - Sharpe Ratio Comparison

The current HOOG Sharpe Ratio is -0.04, which is lower than the TSL Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of HOOG and TSL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HOOG vs. TSL - Drawdown Comparison

The maximum HOOG drawdown since its inception was -86.94%, which is greater than TSL's maximum drawdown of -74.52%. Use the drawdown chart below to compare losses from any high point for HOOG and TSL.

Drawdown Indicators

	HOOG	TSL	Difference
Max Drawdown Largest peak-to-trough decline	-86.94%	-74.52%	-12.42%
Max Drawdown (1Y) Largest decline over 1 year	-86.94%	-36.98%	-49.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-63.30%	—
Current Drawdown Current decline from peak	-70.92%	-29.26%	-41.66%
Average Drawdown Average peak-to-trough decline	-38.94%	-38.57%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.79%	17.02%	+38.77%

Volatility

HOOG vs. TSL - Volatility Comparison

Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a higher volatility of 46.00% compared to GraniteShares 1.25x Long Tsla Daily ETF (TSL) at 16.24%. This indicates that HOOG's price experiences larger fluctuations and is considered to be riskier than TSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOG	TSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.00%	16.24%	+29.76%
Volatility (6M) Calculated over the trailing 6-month period	101.86%	34.95%	+66.91%
Volatility (1Y) Calculated over the trailing 1-year period	139.56%	55.40%	+84.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.89%	73.05%	+71.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.89%	73.05%	+71.84%

HOOG vs. TSL - Expense Ratio Comparison

HOOG has a 0.75% expense ratio, which is lower than TSL's 1.15% expense ratio.

Dividends

HOOG vs. TSL - Dividend Comparison

HOOG's dividend yield for the trailing twelve months is around 19.73%, while TSL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
HOOG Leverage Shares 2X Long HOOD Daily ETF	19.73%	12.30%	0.00%	0.00%
TSL GraniteShares 1.25x Long Tsla Daily ETF	0.00%	0.00%	0.00%	60.47%

Frequently Asked Questions

Can I hold both HOOG and TSL in my portfolio?

HOOG and TSL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOOG or TSL?

HOOG has higher volatility (46.00%) compared to TSL (16.24%). In terms of maximum drawdown, HOOG dropped -86.94% vs TSL's -74.52%.

Which ETF is better, HOOG or TSL?

On 1-year performance, TSL leads with 24.69% vs -5.85% for HOOG. On fees, HOOG is cheaper at 0.75% per year. On volatility, TSL has been the lower-risk option at 16.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOG or TSL?

Over the 1-year period, TSL has performed better with a 24.69% return vs -5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOG or TSL?

HOOG is cheaper with a 0.75% expense ratio, compared with 1.15% for TSL.

Which ETF pays a higher dividend yield, HOOG or TSL?

HOOG has the higher dividend yield at 19.73%, compared with 0.00% for TSL.

What is the main difference between HOOG and TSL?

They also come from different issuers: Leverage Shares and GraniteShares. Their fees differ too: 0.75% for HOOG and 1.15% for TSL.

Which has better risk-adjusted returns?

TSL currently has the higher Sharpe Ratio (0.45 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.